Live P2P Radar Capture: 22/9/2026, 4:00:09 p. m.
USDT/VES reference Bs. 968.68
Buy USDT Bs. 968.68
USDT Sale Bs. 943.47
BCV Bs. 852.42
Premium vs BCV 13.64%
P2P Spread 2.67%
Observed offers 218
Check current data on P2P Radar
Caracas, September 22, 2026. The USDT/VES P2P order book closed the session with a contradiction that is worth understanding before moving money: the market publishes an aggregated spread of 2.67% between buy and sell, while the book’s tradable end is at 964 / 963 bolívares, only a 0.1% difference. The headline number and the executable number are not the same.
P2P Radar data, captured at 20:00:09 UTC, places the reference type for buying USDT at 968,679 Bs and for selling at 943,466 Bs. That results in an aggregated spread of 25.21 Bs, equivalent to 2.67%. Versus BCV (852,4168 Bs per dollar), the premium remains at 13.64%. The parallel dollar measured over Binance P2P appears at 963.23 Bs with a spread of 0.12%.
The P2P order book, taken at 19:59:48 UTC, tells a different story at its end: best ask at 964 Bs, best bid at 963 Bs, midpoint at 963.5 Bs, and a spread of 1 bolívar, i.e., 0.1%.
📊 Why 2.67% and 0.1% describe different things
Fact: the sell reference (943,466 Bs) is 19.53 Bs below the book’s best bid (963 Bs), a gap of 2.07%. The buy reference (968,679 Bs) is 4.68 Bs above the best ask (964 Bs), at 0.49%.
Interpretation: the aggregated number summarizes many offers from banks, limits, payment methods, and different reputations, and it can be dragged by atypical ads or low depth. The book, on the other hand, is ordered by price and shows the available size at each level. That’s why the spread quoted in headlines may end up being several times larger than the spread that actually gets executed at the top of the book.
Important nuance: 0.1% is the top-of-book spread, not the spread for a large order. That’s where depth comes into play.
📈 Depth: 476,139 USDT to buy versus 133,921 USDT to sell
The consolidated USDT/VES book shows a clear imbalance:
• Buy side (bids): 476,139.6 USDT across 32 offers in 24 levels.
• Sell side (asks): 133,920.99 USDT across 32 offers in 17 levels.
• Imbalance: 56.1% in favor of demand. Demand is 3.55 times the supply—i.e., almost quadruples it.
Large blocks explain the phenomenon. On the buy side, 124,725.81 USDT stand out at 961.5 Bs (Mercantil, BBVA, Provincial, Bancamiga, and BNC), 99,232.17 USDT at 959 Bs on other platforms with Banesco as the payment method, and 49,014.21 USDT at 961.22 Bs in Banco de Venezuela. On the sell side, the largest block is 42,023.62 USDT at 965.4 Bs, followed by one of 20,909.05 USDT at 964.7 Bs.
Illustrative calculation: at the top there are 4,500 USDT at 964 Bs. An order for 10,000 USDT would have to sweep 90 USDT at 964.5 Bs and the rest at 964.7 Bs, resulting in an average price close to 964.38 Bs—about 0.04% above the top. The spread remains small, but it stops being exactly 0.1% once the size grows.
🔎 Bank by bank: where the tightest spread is
The P2P bank comparator, updated in the same screenshot, orders the options like this:
Bank Average Buy Average Sell Spread Ads Score Mercantil 964.77 961.43 3.35 Bs (0.35%) 6 53 Provincial 965.40 961.69 3.71 Bs (0.39%) 7 55 BANK 965.04 961.21 3.83 Bs (0.40%) 11 64 Banco de Venezuela 965.16 961.21 3.95 Bs (0.41%) 16 75 Banesco 966.32 960.05 6.27 Bs (0.65%) 19 91 Pago Móvil 966.29 958.82 7.47 Bs (0.78%) 22 88 Other method 966.10 958.19 7.91 Bs (0.83%) 19 81 BBVA Bank appears with 6 ads and only an average sell price (961.69 Bs), so it doesn’t allow calculating a two-sided spread with the captured data: that figure is missing.
Takeaway: the tightest spreads are at Mercantil (0.35%), Provincial (0.39%), BANK (0.40%), and Banco de Venezuela (0.41%), with fewer ads but more aligned prices. Banesco, Pago Móvil, and the Other method concentrate the largest number of offers and the best liquidity rating, in exchange for spreads between 0.65% and 0.83%.
💰 Exchange by exchange: Binance, other platforms, and the reference from other platforms
The consolidated order book records offers on Binance and other platforms. In Binance’s top 10, the USDT buy side ranges from 962.5 to 963 Bs (median 963) and the sell side from 964 to 963.8 Bs (median 963.8): a range of just 1.5 Bs between the two extremes.
📖 Read the full article: https://pitbullchain.com/noticias/order-book-p2p-demanda-de-usdt-casi-cuadruplica-la-oferta-spread-real-0-1
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📊 Live rates and analysis at https://pitbullchain.com
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